Grupo Famsa, S.A.B. de C.V. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
July 25, 2018
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Grupo Famsa, S.A.B. de C.V. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total revenues of MXN 4,867,824,000 against MXN 4,268,115,000 a year ago. Operating profit was MXN 334,712,000 against MXN 268,718,000 a year ago. Loss before income tax was MXN 69,272,000 against profit of MXN 214,058,000 a year ago. Consolidated net loss was MXN 28,308,000 against income of MXN 380,341,000 a year ago. EBITDA was MXN 441 million against MXN 375 million a year ago.
For the six months, the company reported total revenues of MXN 9,333,901,000 against MXN 8,247,482,000 a year ago. Operating profit was MXN 712,187,000 against MXN 576,163,000 a year ago. Profit before income tax was MXN 225,846,000 against MXN 603,596,000 a year ago. Consolidated net income was MXN 161,048,000 against MXN 706,378,000 a year ago. Net cash flows generated from operating activities were MXN 135,041,000 against MXN 1,266,795,000 a year ago. Acquisition of property, leasehold improvements, furniture and equipment was MXN 84,592,000 against MXN 56,375,000 a year ago. Acquisition of intangible assets was MXN 6,088,000 against MXN 4,523,000 a year ago. EBITDA was MXN 922 million against MXN 791 million a year ago. Net debt as on June 30, 2018 was MXN 7,904 million.
Grupo Famsa SAB de CV is a Mexico-based holding company primarily engaged in retail sector. The Company owns and operates a network of Famsa Mexico department stores located in Mexican cities, as well as Famsa USA stores established in the United States. Via its retail network, the Company is active in the import, distribution and sale of household appliances, furniture and consumer electronics, among others. Through Banco Ahorro Famsa SA Institucion de Banca Multiple, the Company is also involved in the provision of a variety of banking and sales financing services to its retail customers.